M&T Bank (NYSE:MTB) Stock Rating Lowered by StockNews.com

M&T Bank (NYSE:MTB) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company cut M&T Bank from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $170.00 to $165.00 in a research note on Thursday, August 15th. Jefferies Financial Group raised their price target on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Royal Bank of Canada upped their price objective on shares of M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Finally, Piper Sandler boosted their target price on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $178.35.

M&T Bank Trading Down 1.6 %

NYSE MTB traded down $2.76 during trading hours on Tuesday, reaching $174.86. The company’s stock had a trading volume of 1,040,153 shares, compared to its average volume of 1,025,545. The firm has a fifty day simple moving average of $168.09 and a 200-day simple moving average of $154.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank has a 52 week low of $108.53 and a 52 week high of $180.63. The stock has a market cap of $29.18 billion, a P/E ratio of 11.82, a P/E/G ratio of 3.32 and a beta of 0.76.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the firm earned $5.12 earnings per share. Equities analysts forecast that M&T Bank will post 14.24 earnings per share for the current fiscal year.

Insider Activity at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now directly owns 16,429 shares in the company, valued at $2,834,002.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the transaction, the director now directly owns 20,414 shares in the company, valued at approximately $502,184.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,699 shares of company stock worth $5,115,349. Insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Several institutional investors and hedge funds have recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its holdings in shares of M&T Bank by 4.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after acquiring an additional 81,004 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in M&T Bank by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after purchasing an additional 93,113 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of M&T Bank by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock worth $229,076,000 after purchasing an additional 44,442 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of M&T Bank by 3.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after purchasing an additional 43,795 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of M&T Bank by 77.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after buying an additional 319,051 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.